Richmond Asset Finance can help you with agricultural finance for the following:
- Tractors & self propelled
- ATV & RTV
- Grassland machinery
- Cultivation machinery
- Drilling & planting machinery
- Harvest machinery
- Livestock handling systems
- Robotic milking systems
- Grading lines
- Farm security
- Food processing units
- Bottling plants
- Livestock feed systems
- Irrigation equipment
Richmond Asset Finance can finance any new or used piece of agricultural machinery and equipment with no age limitation, supplied by either a specialist agricultural dealer or bought privately through a fellow farmer or auction. Manufacturers subsidised finance is periodically available through Richmond Asset Finance based in the North West, Leeds and Yorkshire.
We can finance any make and model of agricultural plant and machinery irrespective of age, please contact us with your requirements on 0113 288 3277
Selling your home and buying a new property at the same time can be a little tricky.
It can sometimes take a while to sell your home, leaving you without the sales proceeds to buy your new property.
With a bridging loan, you can avoid the stress of matching up settlement dates, move quickly to buy your new home and give yourself more time to sell your existing property.
A stort-term bridging finance is also known as ‘relocation loan’.
Bridging loans explained: How does it work?
A bridging loan is basically finance that allows you to buy a new property without having to sell your existing property first.
Banks work out the size of the loan by adding the value of your new home to your existing mortgage then subtracting the likely sale price of your existing home.
What you’re left with is your “ongoing balance” or “end debt” which represents the principal of your bridging loan. Banks will assess your ability to make mortgage repayments on this end debt.
Lenders use both properties as security and you’ll have one loan (peak debt) to cover both the existing debt and the new purchase.
Between when your bridging loan is advanced until you sell your existing home, most lenders capitalise interest-only repayments on the peak debt which means that you’ll only have to worry about continuing to make principal and interest (P&I) on your current mortgage, rather than trying to manage repayments on two home loans.
After your property is sold, you simply continue to make normal home loan repayments, plus the compounded bridge loan interest, on the new loan.
Loan and credit card payments to be frozen for three months in UK.
The financial regulator has announced plans to freeze loan and credit card payments for up to three months as part of emergency measures for consumers impacted by the coronavirus outbreak. They have also announced plans to help businesses that are struggling in the current climate.
The new measures which could come into force by 9th April is aimed at consumers and renters who are not benefiting from existing relief measures that have targeted homeowners – with mortgage payment holidays – or business owners.
The FCA has advised that banks and credit card providers will have to ensure that consumer credit ratings are unaffected by any of the measures.
If you are looking for a loan or bridging finance for your business in the agricultural sector. Feel free to give us a call or email us today and we will be happy to help!